Clarus Wealth Advisors Invests $808,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Clarus Wealth Advisors acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 70,935 shares of the company's stock, valued at approximately $808,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP purchased a new position in SoFi Technologies during the 4th quarter valued at about $299,980,000. Geode Capital Management LLC raised its position in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after buying an additional 167,780 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the transaction, the executive vice president now directly owns 203,509 shares in the company, valued at $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,507 shares of company stock valued at $1,283,528. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Down 1.5%

Shares of SOFI stock traded down $0.20 during mid-day trading on Wednesday, hitting $13.46. The company's stock had a trading volume of 54,319,982 shares, compared to its average volume of 48,655,941. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.24 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The business has a 50-day moving average price of $12.26 and a 200 day moving average price of $14.02.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the firm earned $0.02 EPS. SoFi Technologies's revenue was up 32.7% on a year-over-year basis. Research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SOFI. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. JMP Securities started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price for the company. Barclays boosted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Truist Financial began coverage on shares of SoFi Technologies in a report on Monday. They issued a "hold" rating and a $14.00 price objective for the company. Finally, UBS Group upped their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.36.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.